What is Finance Lease?
Finance Lease is a credit agreement most usually chosen by business customers including limited companies, partnerships, and sole traders. Essentially, Finance leasing enables the business to acquire the assets needed to maintain a business, without needing to buy the asset outright.
Benefits of Leasing:
Finance Leases offer flexibility in terms of length of agreement, rental repayment profile and end of lease options. 2.
Unlike making an outright purchase, you will retain cash within your business. 3.
Effective financial planning. The lease repayment profile gives you confidence in being able to budget for the lifetime of the asset. 4.
Tax advantages 5.
Using the latest assets will ensure you remain competitive by keeping your costs low. 6.
Fast turnaround times 7.
Potential to carry on using the asset at the end of the lease period for a nominal payment, or you can look to upgrade the equipment with another lease.
Things to be mindful of:
The agreement is secured against the asset. 2.
Non payment could negatively affect the credit rating of the business and the guarantor.
Anderson Electrical Trade Ltd are not authorised and regulated by the Financial Conduct Authority. Anderson Electrical Trade Ltd can only facilitate un-regulated finance. Un-regulated finance is finance entered into with a limited company, a partnership of 4 or more partners or the value of the finance being over £25,000.